Tuesday, February 3, 2009

Broomfield, Colorado based Level 3 Communications is profiled in today's Wall Street Journal. The article talks about how the company managed to survive not one but two financial storms. As the playing field in telecommunications and credit market shifted and became too uneven for many of the telecom players, Level 3 managed to fund its operations and save jobs. How did they do it? The management convinced the original investors to do more and bought back some of their old debts for cents on the dollar.